The Company has a clear and unambiguous obligation under its licences to drill an initial exploration well in The Bahamas during 2020. Discharge of this obligation will then allow the Company to enter the next exploration period, running for a further three years, and in the event of success seek a 30 year production lease that would allow for development of any discovered commercial reserves.
Drilling our exploration well will drive shareholder value. Recently, “the mission” seems to have become “get a farm-in”, whereas properly speaking “the mission” is and always has been to deliver the results of a first seismic-driven exploration well in The Bahamas.
The next 3 – 4 months will see the Company deliver on this obligation. Key news flow events will be announced related to rig and integrated well services delivery, environmental permits and data acquisition, provision of skilled people and funding. It is in this short timeframe, working on all four fronts, that will see drilling targeted for late 1Q2020
Simon Potter, Chief Executive Officer
Bahamas Petroleum to become full-cycle exploration and production company with Columbus deal
11 June 2020
Bahamas Petroleum Company PLC’s (LON:BPC) Simon Potter speaks to Proactive London’s Andrew Scott after announcing the recommended £25mln acquisition of fellow Caribbean and South America focussed oil junior Columbus Energy Resources PLC (LON:CERP). Potter says the combination will create a “Caribbean and Atlantic margin focused oil and gas champion”.
Introduction to Bahamas Petroleum
10th October 2019
Eytan Uliel, Commercial Director, provides an overview of Bahamas Petroleum Plc in this two-minute video.
VOX Markets Q&A
10th October 2019
Abraham Darwyne of VOX Markets presents a question and answers session with Eytan Uliel, Commercial Director for Bahamas Petroleum Plc
Proactive Oil Capital Conference
16th Sep 2019
Bahamas Petroleum Company PLC (LON:BPC) CEO Simon Potter presents at the Proactive Oil Capital Conference in London.
The firm was formed to invest in an offshore oil exploration programme in licence areas covering approximately 16,000 sq km in the territorial waters and maritime Exclusive Economic Zone (EEZ) of The Bahamas.
Click here to print a copy of the presentation.